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SEC Cyber Unit & Task Force

MSK Client Alert
October 6, 2017

With increased attention to how securities laws may apply to digital token sales and the disruptive nature of increased cyber threats to the investor community, the Securities Exchange Commission (“SEC”) last week announced two new initiatives. The SEC’s press release, found here, outlined the creation of the Cyber Unit (“Unit”) and the Retail Strategy Task Force (“RSTF”).

According to the press release the Unit will focus the Enforcement Division’s substantial cyber-related expertise on targeting cyber-related misconduct, including:

The Unit will operate as a working group to “coordinate information sharing, risk monitoring, and incident response efforts.” Robert A. Cohen, the former co-chief of the SEC’s Market Abuse Unit, will lead The Unit.

Separately, the RSTF has been established to “develop proactive, targeted initiatives to identify misconduct impacting retail investors.”

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